Logical Storage Solutions Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 07834216 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2018

for

Logical Storage Solutions Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

7

DIRECTORS:

N M Ellis

Mrs E Ellis

REGISTERED OFFICE:

Unit 1b Herald Way

Pegasus Business Park

Castle Donington

Leicestershire

DE74 2TZ

REGISTERED NUMBER:

07834216 (England and Wales)

ACCOUNTANTS:

Robins & Co

35 St Leonards Road

Northampton

Northamptonshire

NN4 8DL

FIXED ASSETS

Tangible assets

4

151,522

55,596

CURRENT ASSETS

Stocks

-

10,353

Debtors

5

204,972

282,683

Cash at bank and in hand

1,201,151

854,562

1,406,123

1,147,598

CREDITORS

Amounts falling due within one year

6

501,416

627,909

NET CURRENT ASSETS

904,707

519,689

TOTAL ASSETS LESS CURRENT LIABILITIES

1,056,229

575,285

PROVISIONS FOR LIABILITIES

28,789

10,563

NET ASSETS

1,027,440

564,722

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

1,027,340

564,622

SHAREHOLDERS' FUNDS

1,027,440

564,722

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 27 April 2018 and were signed on its behalf by:

N M Ellis - Director

1.	STATUTORY INFORMATION

Logical Storage Solutions Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2017 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2017

504

75,398

7,352

83,254

Additions

-

112,168

2,615

114,783

At 31 March 2018

504

187,566

9,967

198,037

DEPRECIATION

At 1 April 2017

229

23,440

3,989

27,658

Charge for year

69

17,663

1,125

18,857

At 31 March 2018

298

41,103

5,114

46,515

NET BOOK VALUE

At 31 March 2018

206

146,463

4,853

151,522

At 31 March 2017

275

51,958

3,363

55,596

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

190,520

131,179

Amounts recoverable on contract

7,722

145,844

Prepayments

6,730

5,660

204,972

282,683

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

86,631

470,707

Tax

124,053

107,943

Social security and other taxes

1,912

932

VAT

84,634

10,429

Other creditors

1,800

-

Directors' current accounts

10

573

Accruals and deferred income

202,376

37,325

501,416

627,909

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

50

Ordinary A

£1

50

50

50

Ordinary B

£1

50

50

100

100

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2018 and

31 March 2017:

2018

2017

£

£

N M Ellis

Balance outstanding at start of year

(573

)

2,995

Amounts advanced

563

-

Amounts repaid

-

(3,568

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(10

)

(573

)

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Logical Storage Solutions Limited for the year ended 31 March 2018 which comprise the Income

Statement, Balance Sheet, and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Logical Storage Solutions Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Logical Storage Solutions Limited and state those matters that we have agreed to state to the Board of Directors of Logical Storage Solutions Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Logical Storage Solutions Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Logical Storage Solutions Limited. You consider that Logical Storage Solutions Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Logical Storage Solutions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Robins & Co

35 St Leonards Road

Northampton

Northamptonshire

NN4 8DL

Date: .............................................